Chain Reaction?

[Febo]

Yes there was a bottom in December. Hash rate decrease a month latter confirmed it. It happened same in 2012 and 2015.

Hashrate didn't confirm anything. Hashrate is just people voting with their machines that they think the price will go up or down. The price could have easily gone down further, which would have forced some miners to quit.

Last year people were so confident that miners needed $6000 to mine profitably, that they legit believed that the price couldn't drop below the $6000 mark. The market has spoken afterwards. People couldn't be more wrong.

Difficulty adjustments are in place to make mining profitable again with less hashrate, which is something people completely disregarded. At the end of the day, traders/investors make the price, not the miners....

It same happened in 2012 and in 2015. How can you say when some event repeats 3rd time that what happened both times after first two events will not happen again 3rd time?  Yes of course is possible but chances are low.  If you expect new bottom you will be most likely disappointed. Because even if BTC goes under $4000, it will not go that much under it.

[futile-resistance]

I think we have bottomed out and we will not see a bitcoins at 3500 again, but I still expect to see a retest of 4-5k  in the next few months. However, if Bitfinex and Tether collapse we cut see bitcoins either fall to 1k or go to 10k

Definitely, there's no way that we can get below $4k now. The price is really stable and it's climbing up like everyday. And I disagree about the retest, what we are going to see is the price goes $6k again and it will trade it sideways like we used to see prior to the massive drop.

But it doesn't mean that the price will go down, it will just go trade sideways and we will break another trend and push it maybe around $8K-$9K at the end of the year.

The reason for people saying bitcoin will retest $4000 back is because they believe that at $6000, those who invested when the price was $4000, would see the profit as enough for them to pull out temporarily and take their profit, but they forgot that it will be impossible for everyone to make same decision at the same time.

Every time bitcoin climbs, it keep building confidence in the mind of holders to keep waiting a little longer because they might miss out if they think the value will drop again and continue to do otherwise. So many investors now, including those who even bought at $4000, are willing to really continue with the growth of the market till they see the ATH.

[goaldigger]

Its more likely a loop than a chain reaction. You will notice that what reactions made in the past, will repeat again tomorrow but with a stronger or smaller circle. Its always an opportunity to invest. It has unlimitted chances but only if you wait for the right time.